Silver MCX Sell CMP 53924 Trade With Stop Loss (Closing Basis) 54555 Target Open – Neal Bhai Reports
Silver yesterday settled up by 2.09% at 54005 as the global death toll from Covid-19 surpassed 600,000 and the euro strengthened in the wake of reports that EU leaders were making progress on a coronavirus rescue plan after three days of haggling.
Hong Kong issued tougher new rules on the wearing of face masks amid signs of a resurgence in the virus. Underscoring the impact of the virus, data released earlier today showed that Japan’s exports plunged at a double-digit pace for the fourth month in a row in June.
EU leaders would move toward agreement on a proposed 750 billion euro recovery fund to revive economies. Latest reports suggest that EU leaders were making progress on a coronavirus rescue plan after three days of haggling.
The main division is between countries hit hardest by the virus and some EU members seeking to limit the size of the fund and stricter controls on its use. Dutch Prime Minister Mark Rutte has admitted leaders were “close to failure” and talks could still “fall apart”.
In economic news, a report from the University of Michigan showed an unexpected deterioration in U.S. consumer sentiment in the month of July. The preliminary report said the consumer sentiment index tumbled to 73.2 in July after jumping to 78.1 in June.
